Tag Archives: HES

Short Interest in Hess Co. (HES) Decreases By 24.1%

Hess Co. (NYSE:HES) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totalling 25,209,672 shares, a decrease of 24.1% from the April 13th total of 33,202,169 shares. Based on an average trading volume of 4,665,104 shares, the days-to-cover ratio is currently 5.4 days. Approximately 9.0% of the shares of the stock are short sold.

In other news, COO Gregory P. Hill sold 7,422 shares of the stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $48.04, for a total transaction of $356,552.88. Following the sale, the chief operating officer now directly owns 90,600 shares of the company’s stock, valued at approximately $4,352,424. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John B. Hess sold 51,014 shares of the stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $48.63, for a total transaction of $2,480,810.82. Following the sale, the chief executive officer now directly owns 1,813,548 shares in the company, valued at $88,192,839.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,070 shares of company stock worth $3,154,064. Corporate insiders own 11.80% of the company’s stock.

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A number of hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Hess by 3.9% in the 4th quarter. Bank of New York Mellon Corp now owns 5,417,438 shares of the oil and gas producer’s stock valued at $257,165,000 after acquiring an additional 203,463 shares during the last quarter. Levin Capital Strategies L.P. raised its holdings in Hess by 4.5% in the 4th quarter. Levin Capital Strategies L.P. now owns 4,193,086 shares of the oil and gas producer’s stock valued at $199,046,000 after acquiring an additional 179,125 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Hess by 17.4% in the 4th quarter. UBS Asset Management Americas Inc. now owns 3,679,502 shares of the oil and gas producer’s stock valued at $174,666,000 after acquiring an additional 545,558 shares during the last quarter. Geode Capital Management LLC raised its holdings in Hess by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 2,928,183 shares of the oil and gas producer’s stock valued at $138,707,000 after acquiring an additional 85,707 shares during the last quarter. Finally, Impala Asset Management LLC raised its holdings in Hess by 62.9% in the 4th quarter. Impala Asset Management LLC now owns 2,295,452 shares of the oil and gas producer’s stock valued at $108,965,000 after acquiring an additional 886,096 shares during the last quarter. Institutional investors own 95.66% of the company’s stock.

HES stock opened at $63.46 on Wednesday. The stock has a market capitalization of $18.82 billion, a price-to-earnings ratio of -13.77 and a beta of 1.43. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.63 and a quick ratio of 2.51. Hess has a 12 month low of $62.68 and a 12 month high of $63.82.

Hess (NYSE:HES) last released its quarterly earnings data on Wednesday, April 25th. The oil and gas producer reported ($0.27) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.23. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. Hess had a negative net margin of 69.10% and a negative return on equity of 8.54%. Hess’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.07) EPS. sell-side analysts expect that Hess will post -1.07 earnings per share for the current year.

Hess announced that its board has approved a share buyback plan on Thursday, March 8th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the oil and gas producer to buy shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

A number of research analysts recently weighed in on the stock. Macquarie reaffirmed an “outperform” rating and issued a $58.00 price target (down from $63.00) on shares of Hess in a research note on Wednesday, February 21st. BMO Capital Markets decreased their price target on shares of Hess from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Tuesday, February 6th. ValuEngine raised shares of Hess from a “sell” rating to a “hold” rating in a research note on Monday, April 2nd. Zacks Investment Research lowered shares of Hess from a “buy” rating to a “hold” rating in a research note on Monday, April 30th. Finally, UBS assumed coverage on shares of Hess in a research note on Wednesday, March 7th. They issued a “neutral” rating and a $50.00 price target on the stock. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $51.97.

About Hess

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids (NGLs), and natural gas. It operates through two segments, Exploration and Production, and Midstream. The company conducts production operations primarily in the United States, Denmark, the Malaysia/Thailand Joint Development Area, and Malaysia; and exploration activities primarily offshore Guyana, Suriname, Canada, and in the Gulf of Mexico.

30 Stocks Moving In Friday's Mid-Day Session

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Losers
TrovaGene Inc (NASDAQ: TROV) shares dipped 43.1 percent to $0.2449. Trovagene priced its 15 million share common stock offering at $0.30 per share.
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Fitbit Inc (NYSE: FIT) shares dropped 7.7 percent to $6.2950. Stifel Nicolaus downgraded Fitbit from Hold to Sell.
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Oracle Corporation (NYSE: ORCL) shares declined 5.6 percent to $47.37. Oracle posted upbeat earnings for its second quarter, but revenue from its cloud-based business missed analysts' estimates.
SG Blocks Inc (NASDAQ: SGBX) shares slipped 5.5 percent to $5.20.
Global Blood Therapeutics Inc (NASDAQ: GBT) fell 5.3 percent to $37.30. Global Blood Therapeutics reported a $100 million common stock offering.
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Yield10 Bioscience Inc (NASDAQ: YTEN) shares dropped 5 percent to $3.45 after dropping 17.153 percent on Thursday.
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30 Stocks Moving In Friday's Mid-Day Session

ShiftPixy Inc (NASDAQ: PIXY) shares climbed 97 percent to $4.27 following Q4 earnings report. ShiftPixy reported sales of $20.244 million in the fourth quarter, up from $8.46 million year-over-year. The company sees first quarter gross billings of $40 million.
Longfin Corp (NASDAQ: LFIN) shares climbed 56.8 percent to $8.45 after the company announced agreement to acquire Ziddu.com.
Diana Containerships Inc (NASDAQ: DCIX) shares rose 22.59 percent to $5.97 after falling 7.06 percent on Thursday.
Riot Blockchain, Inc. (NASDAQ: RIOT) shares climbed 14.51 percent to $28.605 after gaining 8.47 percent on Thursday.
Wins Finance Holdings Inc (NASDAQ: WINS) shares gained 14.2 percent to $136.00.
Educational Development Corporation (NASDAQ: EDUC) shares rose 13.1 percent to $16.00 after the company reported Q3 and year-to-date revenue.
Crocs, Inc. (NASDAQ: CROX) climbed 12.4 percent to $12.30. Stifel Nicolaus upgraded Crocs from Hold to Buy.
TiGenix NV (NASDAQ: TIG) gained 12.4 percent to $24.36. Takeda and TiGenix disclosed that Cx601 has received a positive CHMP opinion for treatment of complex perianal fistulas in Crohn's disease. Mesoblast has granted Tigenix exclusive global patent license to use adipose-derived mesenchymal stem cells in local treatment of fistulae.
Marathon Patent Group Inc (NASDAQ: MARA) jumped 10.8 percent to $6.0206 after falling 4.57 percent on Thursday.
Professional Diversity Network Inc (NASDAQ: IPDN) shares rose 10 percent to $4.10.
Under Armour Inc (NYSE: UAA) shares jumped 9 percent to $15.06. Stifel Nicolaus upgraded Under Armour from Hold to Buy.
FormFactor, Inc. (NASDAQ: FORM) shares gained 8.8 percent to $16.21.
DDR Corp (NYSE: DDR) climbed 8.8 percent to $8.66 after announcing the the creation of a retail value trust, which will be spun off with approximately $3 billion of Gross Book Value of assets and business. The company will complete the portfolio transformation while maintaining scale and balance sheet strength and that the strategy will realize private market asset values.
Galapagos NV (ADR) (NASDAQ: GLPG) shares gained 7.4 percent to $90.71 after the company reported that it has exercised co-promotion option for filgotinib with collaboration partner Gilead Sciences in eight European countries.
Hess Corp. (NYSE: HES) climbed 4.7 percent to $44.42 after a WSJ report says that activist investor Elliott seeks to replace John Hess as CEO or get him to consider a sale. The activist investor also seeks a dividend cut and more buybacks.
U.S. Global Investors, Inc. (NASDAQ: GROW) gained 4.6 percent to $5.915 after climbing 7.82 percent on Thursday.
RumbleON Inc (NASDAQ: RMBL) shares gained 3.1 percent to $5.4594 after announcing a strategic partnership with Sonic Automotive Inc (NYSE: SAH).

Losers
TrovaGene Inc (NASDAQ: TROV) shares dipped 43.1 percent to $0.2449. Trovagene priced its 15 million share common stock offering at $0.30 per share.
One Horizon Group Inc (NASDAQ: OHGI) shares dipped 21.1 percent to $2.4299 after surging 185.16 percent on Thursday.
Rosetta Genomics Ltd. (USA) (NASDAQ: ROSG) shares dropped 15.6 percent to $0.53 after the company agreed to be acquired by Genoptix for $10 million.
Verastem Inc (NASDAQ: VSTM) shares declined 12.1 percent to $3.21 after announcing public offering of common stock.
Frontier Communications Corp (NASDAQ: FTR) dropped 10 percent to $8.6401. Barclays initiated coverage on Frontier Communications with an Underweight rating and a $7.00 price target.
Fitbit Inc (NYSE: FIT) shares dropped 7.7 percent to $6.2950. Stifel Nicolaus downgraded Fitbit from Hold to Sell.
CSX Corporation (NYSE: CSX) dipped 7.7 percent to $52.88 following announcement that the CEO Hunter Harrison had taken medical leave.
Oracle Corporation (NYSE: ORCL) shares declined 5.6 percent to $47.37. Oracle posted upbeat earnings for its second quarter, but revenue from its cloud-based business missed analysts' estimates.
SG Blocks Inc (NASDAQ: SGBX) shares slipped 5.5 percent to $5.20.
Global Blood Therapeutics Inc (NASDAQ: GBT) fell 5.3 percent to $37.30. Global Blood Therapeutics reported a $100 million common stock offering.
bebe stores, inc. (NASDAQ: BEBE) shares fell 5.1 percent to $4.10.
Yield10 Bioscience Inc (NASDAQ: YTEN) shares dropped 5 percent to $3.45 after dropping 17.153 percent on Thursday.
The Chefs' Warehouse, Inc. (NASDAQ: CHEF) slipped 2.7 percent to $19.50 after the company reported commencement of public offering of common stock.